Tag Archives: WB

MNA Business Desk: The World Bank on Monday unveiled $200 billion in climate action investment for 2021-25, adding this amounts to a doubling of its current five-year funding, reported news agency. The World Bank said the move, coinciding with a UN climate summit meeting of some 200 nations in Poland, represented a “significantly ramped up ambition” to tackle climate change, “sending an important signal to the wider global community to do the same.” Developed countries are committed to lifting combined annual public and private spending to $100 billion in developing countries by 2020 to fight the impact of climate change ...

MNA Business Desk: The World Bank has forecast a growth rate of 7.0 per cent for Bangladesh this fiscal year on the back of robust private investment, increased exports and remittance inflows. The projection is lower than the Asian Development Bank’s estimate of 7.5 per cent and the government’s 7.8 per cent for fiscal 2018-19, reported news agency. Driven by strong domestic demand, Bangladesh’s economy remains among the fastest growing economies in the developing world and it would grow at an even faster pace if it implemented economic reforms, the World Bank said in a new report launched in Dhaka. ...

MNA Exclusive Desk: The World Bank (WB) has approved US$25 million to help Bangladesh provide education and support to heal the psychological wounds of Rohingya children and youth. The second in a series to help Bangladesh deal with the crisis, the additional financing on grant terms expands an existing World Bank project to help about 350,000 Rohingya children and adolescents get basic education in learning centers. The existing ‘Reaching Out of School Children Project II (ROSC II)’ project is also being extended for two years, which will enable the enrollment of poor children in the host communities in Cox’s Bazar, ...

MNA Business Desk: The World Bank (WB) is likely to provide a grant of US$ 400 million for the rehabilitation of Rohingya refugees within next two years, reported news agency. The Washington-based international financial institution has backtracked from its earlier stance on providing the loan for the Rohingyas as the Government of Bangladesh raised its reservations about the credit, they said. “The WB has formally agreed to provide the grant for the Rohingyas,” said Kazi Shofiqul Azam, Secretary of the Economic Relations Division (ERD). They have recently completed a mission to explore the potential of support, he told the FE. ...

MNA Business Desk: Government on Tuesday signed a $55 million loan agreement with the World Bank (WB) to monitor the country’s annual dev projects, reported news agency. The Digitizing Implementation Monitoring and Public Procurement Project (DIMAPPP) will help Bangladesh expand electronic government procurement (e-GP) to all public sector organizations as well as improve capacity to monitor implementation of development projects and programs using digital technology. The agreement was signed by Economic Relations Division (ERD) Secretary Kazi Shofiqul Azam and World Bank Country Director Qimiao Fan on behalf of the government of Bangladesh and the World Bank, respectively, at the ERD ...

MNA Editorial Desk: Former Communications Minister Syed Abul Hossain on Saturday said the Canadian court verdict over Padma Bridge Corruption Case proved that the allegations brought against him were totally false and intriguing. His remarks came after a Canadian court acquitted three former top executives of SNC-Lavalin as no proof of bribery was found in an international case in connection with the Padma Multi-Purpose Bridge construction in Bangladesh. An Ontario Superior Court justice dismissed the corruption case on Friday at the prosecution’s request as Kevin Wallace, Ramesh Shah, and Zulfiquar Ali Bhuiyan had pleaded not guilty, reports CBS news. Last ...